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NEW DELHI: Global leader in business process and technology management Genpact on Wednesday said it had signed a definitive agreement to acquire Headstrong Corporation, a global provider of comprehensive consulting and IT services, for cash consideration of $550 million.
The transaction is being funded by a combination of existing cash and acquisition financing, and is expected to close by May 31, subject to customary regulatory and other conditions, Genpact said in a statement.
“Headstrong is a complementary high-growth business, built by talented leaders, that is an excellent fit strategically, financially, operationally and culturally. With this acquisition, we are gaining critical domain and technology expertise in the complex, but highly attractive, capital markets industry vertical,” said Genpact President and CEO Pramod Bhasin said. Headstrong has domain expertise in several segments of the capital markets vertical like asset management, derivatives, wealth management, prime brokerage, reference data, compliance and mortgages. Headstrong has approximately 3,700 employees in seven countries and generated revenues of about $217 million in 2010.
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